PETRONAS to account for $42 bn in Malaysia's income: PM

10 June 2013 03:28[Source: ICIS news]

KUALALUMPUR (ICIS)--Malaysia's Prime Minister Najib Razak said on Monday that state-owned PETRONAS is expected to generate Malaysian ringgit (M$) 131.4bn ($42bn) in gross national income as the country aspires to become a regional energy hub.

The oil and gas major is also expected to create over 50,000 new highly-skilled jobs “as it looks to galvanize Malaysia’s upstream sector, expand domestic downstream production and venture into clean energy,” he said.

Najib was speaking at opening of the 2013 Asia Oil and Gas Conference (AOGC) held in Kuala Lumpur, Malaysia, which runs on 9-11 June.

The country’s oil and gas industry contributes to more than 40% to national income, according to Najib.